The latest set of economic data reveals that China’s slowdown worsened. The most disappointing reading comes from retail sales growth which moderated to +2.5% y/y in August, compared with consensus of +7.1% and July’s +8.5%. The slowest growth in 12 months can be attributed to delta variant outbreak and the aftermath of July’s huge flood.
Month: September 2021
Silver (XAG/USD) is witnessing some weakness. Downside risks remain for the precious metal while capped by the 55-day moving average (DMA) at $24.72, according to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. See – Silver Price Analysis: XAG/USD to sink towards $19.65 on a break below $22.63 – Credit Suisse Silver needs to regain
Leading U.S.-based cryptocurrency exchange Coinbase has seen enormous demand for its junk bond offering, with the firm increasing the size of the sale by one-third from $1.5 billion to $2 billion. According to Economic Times, at least $7 billion worth of orders were placed in competition for equal quantities of seven and 10-year bonds, offering
All 11 sectors of the S&P are lower. The majors stock indices are all closing lower with the Dow industrial average the worst performer. The S&P and Dow have been down for five the last six trading days The NASDAQ index has fallen five straight days All 11 sectors of the S&P index are lower
NZDCHF in focus New Zealand was all set to become one of the first major central banks to embark on a hiking cycle as the economy began to run hot. Moving into the RBNZ meeting last month the expectations were that the RBNZ were going to hike rates. Unemployment was at a low (4.0%), inflation
NEW DELHI: Gold prices inched lower, little changed, on Wednesday after a tamer-than-expected rise in US inflation led to uncertainty on when the US central bank would begin tapering its asset purchases. Gold futures on MCX were marginally down 0.10 per cent, or Rs 47, at Rs 47,213 per 10 gram. Silver futures declined 0.29
A customer pushes her shopping cart through the aisles at a Walmart store in the Porter Ranch section of Los Angeles. Kevork Djansezian | Reuters Tuesday’s report of the consumer price index could set the tone for markets ahead of next week’s Federal Reserve meeting, particularly if it is hotter-than-expected. The CPI is expected to
Dollar drops broadly after data shows declining headline consumer inflation in the US, and even quicker fall in core CPI. It’s adding to the Fed’s case that prior surge in inflation was just transitory. DOW futures responde rather positively to the news. Strengthening risk appetite could put Yen under some pressure too. Meanwhile, Sterling is
USD/JPY slides below 110 on the back of dollar weakness. Market sentiment is downbeat, benefiting the safe-haven status of the Japanese yen vs the greenback. On Thursday, the US Jobless Claims and the Retail Sales will be released. After posting a three-day high during the Asian session, the USD/JPY turned around and is trading around
The recent swing lows between 109.5610 9.615 stalls the fall. The USDJPY has seem to find a bottom near the recent bottoms in the 109.56 to 109.615 area. The low price reached 109.587. It will take a move below that swing area (see red numbered circles in yellow area) to open the door for further downside. For now, the support is holding.
Closing changes for the main European bourses: UK FTSE 100 -0.5% German DAX +0.1% French CAC -0.5% Spain IBEX -0.4% Italy MIB +0.3% The FTSE 100 looked like it could sustain the breakout in early in the summer but it has flattened out. It’s back down near the recent low and I can see a
Kolkata: The National Commodity and Derivatives Exchange (NCDEX) has posted 115% rise in the average daily turnover value (ADTV) of Rs 2,444 crore in August 2021 despite restrictions on chana futures, one of its key liquid contracts in the pulses segment, a media release issued by the exchange said. It also added that exchange has
Prices for an array of consumer goods rose less than expected in August in a sign that inflation may be starting to cool, the Labor Department reported Tuesday. The consumer price index, which measures a basket of common products as well as various energy goods, increased 5.3% from a year earlier and 0.3% from July.
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Overall market sentiment is mildly positive with the strong rebound in DOW overnight, followed by slight gain in Nikkei. European majors are having a small edge over the others but Swiss Franc is still clearly lagging behind. Australia Dollar is leading commodity currencies lower for now, after some cautious comments from RBA Governor. Dollar is
GBP/JPY gained strong positive traction on Tuesday and shot to over one month tops. A modest USD pullback extended some support to the GBP and remained supportive. The risk-on mood undermined the safe-haven JPY and provided an additional boost. A sudden pickup in demand for the British pound pushed the GBP/JPY cross to over one-month
The New York Attorney General (NYAG) has won a victory against crypto exchange Coinseed for its dodgy dealings with Dogecoin and defrauding its customers. On Sept. 13 NYAG Letitia James ordered Coinseed Inc. to permanently halt operations and pay $3 million in fines after it had been accused of freezing withdrawals and converting client funds
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